news - Orosi wind farm in Costa Rica awarded best wind deal of the year

Gobleleq MesoAmerica Energy is Orosi’s shareholder and sponsor and its CFO, Mr Rodolfo Echeverría, commented at the ceremony that: “his company and team are very proud for being recognized by Project Finance Magazine as the best wind deal in Latin America during the year 2013”.

Orosí is located in the Guanacaste Province of Costa Rica, 40 kilometers from the city of Liberia. The project will generate 50MW of electricity, install 25 x 2.0 MW Gamesa G87S wind turbines and the electricity generated will be sold under a 20-year PPA with the Costa Rican off-taker ICE. Orosí will also construct a new substation and interconnection lines to enable connection to the national grid.  Globeleq Mesoamerica Energy is a subsidiary company of Globeleq Generation Limited and Mesoamerica Power.

The debt financing of the Project is provided by the Export-Import Bank of the United States (USD 61.1 million), The Netherlands Development Finance Company (“FMO”) (USD 28 million) and Banco Internacional de Costa Rica (USD 20 million).
On behalf of Globeleq, I congratulate our team at Globeleq Mesoamerica Energy who work extremely hard to identify, develop, construct and operate sustainable energy projects.  It is significant that the talent and excellence of the team has been recognised with this award for the Orosi wind project, one of our many projects which will supply more clean and affordable wind power to the Central American region” said Mikael Karlsson, Globeleq’s CEO.

“FMO is very pleased to support this important private investment in Costa Rica. Project sponsors Globeleq and Mesoamerica Power are true frontrunners in developing renewable energy projects in Central America and have built an impressive portfolio of renewable energy assets which have changed the energy matrix in these countries into a cleaner and more sustainable one,” added Mrs Linda Broekhuizen, CIO of FMO.

About Globeleq
Globeleq is an experienced developer, owner and operator of independent power projects in the emerging markets, with a specific focus on Africa and the Americas.  With more than US$1.3 billion in assets, the company develops economically sustainable businesses that support the continued development of the electric power sector in these regions.  Since 2002, Globeleq has participated in nearly 14,000 megawatts (MW) of generation capacity in more than 25 countries.
www.globeleq.com

About Mesoamerica Power
Mesoamerica Power is a Central American investment group focused on the development of renewable energy in the region. Mesoamerica Power is managed by Mesoamerica, the leading private equity mergers and acquisitions and strategic consulting firm in Central America and the Andean Region.
www.mesoamerica.com

About FMO
FMO (the Netherlands Development Finance Company) is the Dutch development bank. FMO supports sustainable private sector growth in developing and emerging markets by investing in ambitious entrepreneurs. FMO believes a strong private sector leads to economic and social development, empowering people to employ their skills and improve their quality of life. FMO focuses on three sectors that have high development impact: financial institutions, energy, and agribusiness, food & water. With an investment portfolio of EUR 6.3 billion, FMO is one of the largest European bilateral private sector development banks.
www.fmo.nl
Press contact:
Paul Hartogsveld
Senior Communications Officer (PR)
T: +31 70 314 9928
M: +31 6 11589127
E: p.hartogsveld@fmo.nl